Friday, December 7, 2012

What are some great personal finance books for young adults?

Q. I'm still in college and know very little about personal finance. My parents manage to get by but I really question some of their decisions at times because I'm further in debt with loans than my friends in the same situation. I wanna manage my own finances with saving, investing, debt management, stocks. etc. What are some recommendations for good programs or books for this? Thanks.

A. Without a doubt the best for me is TOTAL MONEY MAKE OVER, by Dave Ramsey. Learn how to live your life to become debt free, and especially start young, and be really free of credit interest in order to be financially stable early. You also become quite healthy for your retirement.

Check out his web site http://www.daveramsey.com.


Can you buy life insurance for your kid if you don't have a job?
Q. Personal Finance question.
Thanks but I just wanted to let you all know I'm a 17 year old HS student and I don't have kids.
Just a question. Thanks again for your help.

A. They don't care if you have a job, only that you can make the payment.


What is the best way to learn about personal finance and investing? I know nothing and want to learn.?
Q. I know nothing about personal finance. My parents never taught me and I need a complete introuduction to budgeting, saving, and investing. Step by step guidande kind of stuff. Does any have advice?

A. Good for you for asking this question!

I am going to suggest you start with just one book (and an alternate). Buy (or borrow from the library) The Wall Street Journal Guide to Understanding Personal Finance (4th edition). This is about the best book of its type that I have found.

As an alternate, consider Personal Finance for Dummies (4th ed). While I dislike the "Dummies" name, their books are usually pretty good, and not for Dummies at all.

Personally, I don't think Suzie Orman is all that great.


What are some good questions for a questionnaire about personal finance and budgeting of a hospital staff?
Q. My research topic is dealing with personal financing and budgeting - managing one's own money, and dealing with their personal expenses, etc.... basically the PROBLEMS that they run into, but I am focusing on hospital staff. 10 points goes to the best answer.

A. What was the budget last year and compare with this years to see if less or more was spent.

What can we do as a team to cut down on the budget and get opitions from drs and nurses.

Make a grid chart of some sort and follow with what is being spent diffrent colors for diffrent nurses and drs and compare who is spending less and more.





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